Transportation
EV Maker Fisker Stops Production, Warns It May Need to Seek Bankruptcy
- Existing investor commits to helping raise up to $150 million
- Company is still negotiating potential deal with big automaker
The Fisker Ocean electric sports utility vehicle in Los Angeles.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Fisker Inc. is pausing production for the next six weeks as the electric-vehicle maker looks to rein in inventory and avoid possibly having to file for bankruptcy.
The company didn’t make a required interest payment of about $8.4 million last week on its unsecured convertible notes due in 2026, according to a regulatory filing Monday. Fisker warned it may not be able to meet obligations to service its debt and “could need to seek protection under applicable bankruptcy laws.”